Ferrari (NYSE:RACE) Shares Sold by Axa S.A.

AXA S.A. lowered its position in shares of Ferrari (NYSE:RACE - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 588,662 shares of the company's stock after selling 46,908 shares during the period. Ferrari comprises about 0.8% of AXA S.A.'s holdings, making the stock its 20th largest holding. AXA S.A. owned approximately 0.24% of Ferrari worth $250,087,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HBK Sorce Advisory LLC raised its holdings in shares of Ferrari by 3.6% during the fourth quarter. HBK Sorce Advisory LLC now owns 626 shares of the company's stock valued at $266,000 after acquiring an additional 22 shares in the last quarter. Citizens Financial Group Inc. RI lifted its position in shares of Ferrari by 4.4% in the 4th quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company's stock worth $251,000 after purchasing an additional 25 shares during the period. PDS Planning Inc boosted its stake in shares of Ferrari by 4.8% during the 4th quarter. PDS Planning Inc now owns 589 shares of the company's stock valued at $250,000 after purchasing an additional 27 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Ferrari by 10.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company's stock valued at $140,000 after buying an additional 30 shares during the period. Finally, Fifth Third Bancorp raised its stake in Ferrari by 9.8% in the fourth quarter. Fifth Third Bancorp now owns 393 shares of the company's stock worth $167,000 after buying an additional 35 shares in the last quarter.

Ferrari Trading Up 0.8 %

NYSE:RACE traded up $3.61 during midday trading on Monday, hitting $466.45. 307,477 shares of the company traded hands, compared to its average volume of 331,363. The firm has a market capitalization of $113.06 billion, a P/E ratio of 50.98, a P/E/G ratio of 4.43 and a beta of 1.13. The firm's fifty day moving average is $440.88 and its 200-day moving average is $446.53. Ferrari has a 12-month low of $391.54 and a 12-month high of $509.13. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

Ferrari Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be paid a $3.1265 dividend. This is a positive change from Ferrari's previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. This represents a yield of 0.5%. Ferrari's dividend payout ratio (DPR) is presently 5.63%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a report on Thursday, February 6th. They issued a "hold" rating for the company. JPMorgan Chase & Co. lowered their price target on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. UBS Group cut their price objective on shares of Ferrari from $584.00 to $520.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. Finally, Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $481.60.

Ferrari Company Profile

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.